SMS(SZ:002857)2025-04-15 10:00Financial Performance - The company's operating revenue for 2024 reached ¥680,711,959.03, representing a 108.71% increase compared to ¥326,156,822.27 in 2023 [17]. - Net profit attributable to shareholders for 2024 was ¥18,099,741.44, a significant increase of 206.19% from ¥5,911,181.82 in 2023 [17]. - The net profit after deducting non-recurring gains and losses was ¥13,809,720.80, showing a remarkable growth of 987.74% compared to -¥1,555,611.17 in 2023 [17]. - The net cash flow from operating activities for 2024 was ¥103,111,852.83, an increase of 118.13% from ¥47,271,759.44 in 2023 [17]. - Basic earnings per share for 2024 were ¥0.14, up 180.00% from ¥0.05 in 2023 [17]. - Total assets at the end of 2024 amounted to ¥1,165,154,024.39, reflecting a 50.86% increase from ¥772,365,275.77 at the end of 2023 [17]. - The company's net assets attributable to shareholders were ¥527,279,089.20, a slight decrease of 0.54% from ¥530,165,413.00 in 2023 [18]. - The company achieved a total revenue of 680.71 million yuan in 2024, representing a year-on-year increase of 108.71% [39]. - Net profit attributable to shareholders reached 18.10 million yuan, up 206.19% compared to the previous year [39]. Business Expansion and Strategy - The company has expanded its business to include energy storage products, in addition to its core services related to electric meters [15]. - The company has established subsidiaries to support its expansion into new markets and technologies [15]. - The company plans to focus on digitalization of distribution networks and integration of energy storage systems to support the development of a safe and efficient energy future [30]. - The company will continue to leverage opportunities in the smart distribution equipment sector as part of the new power system construction [29]. - The company aims to explore emerging industries and cultivate new profit growth points while maintaining its market share in existing business areas by 2025 [76]. - The company is committed to accelerating digital transformation and upgrading manufacturing capabilities to drive high-quality development [76]. - The company plans to enhance its marketing system and focus on innovation-driven development to achieve industry-leading manufacturing technology by 2025 [76]. Research and Development - The company has established a comprehensive R&D control system, ensuring continuous innovation and maintaining a competitive edge in the industry [36]. - The company’s main products include standard testing equipment, automated testing systems, intelligent storage management systems, and energy storage products [32][33]. - The company has a strong R&D team with extensive industry experience, enabling it to respond quickly to market changes and technological advancements [37]. - Research and development investment totaled 26.22 million yuan, reflecting a growth of 29.02% from the previous year [39]. - The company’s R&D investment increased by 29.02% to ¥26,215,067.08 in 2024, while the R&D investment as a percentage of revenue decreased to 3.85% from 6.23% in 2023 [55]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report [5]. - The company has implemented a governance structure that complies with relevant laws and regulations, ensuring no significant discrepancies exist [86]. - The company has established a complete and independent operational structure, ensuring no interference from controlling shareholders [87]. - The company has a clear governance structure with no overlapping roles between management and shareholder entities [88]. - The company has a commitment to maintaining a robust corporate governance framework with experienced professionals in key positions [96]. - The company has established a shareholder protection mechanism, ensuring that minority shareholders' rights are respected and that their votes on significant matters are counted separately [133]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of 0.15 RMB per 10 shares to all shareholders, based on a total of 127,509,100 shares [5]. - The total distributable profit for the company is reported at 225,871,255.04 CNY, with cash dividends accounting for 100% of the total profit distribution [120]. - The company has a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring clarity and compliance in decision-making processes [120]. - The company has conducted four shareholder meetings during the reporting period, ensuring compliance with legal requirements and maintaining shareholder rights [83]. Market and Industry Outlook - The total installed power generation capacity in the country is expected to exceed 3.2 billion kilowatts by the end of 2024, with a year-on-year growth of 10.3% [28]. - Non-fossil energy installed capacity accounted for 57.6% of the total, with significant contributions from solar and wind power, which added 25 million kilowatts and 8 million kilowatts respectively in 2024 [28]. - The new energy storage market is projected to grow significantly, with new installations reaching 40GW/86GWh in 2024, a year-on-year increase of 77% [29]. - The government has set a target for energy storage systems to be included in over 30 provinces, with a minimum storage ratio of 15% for wind and solar projects [29]. Risks and Challenges - The company faces risks related to policy dependence, market competition, and talent retention, which could adversely affect its operations [78][79]. - The company has identified challenges such as renewable energy consumption pressure and the lack of safety standards for energy storage, which need to be addressed [30]. - The company emphasizes the importance of attracting and retaining high-quality talent to ensure stable and sustainable growth [79]. Employee Management and Incentives - The company has implemented a competitive salary policy and performance evaluation mechanism to attract and retain talent [117]. - The company has established a training system to enhance employee skills and align with overall business objectives [118]. - The company launched a restricted stock incentive plan for 2024, covering core personnel to enhance employee stability and commitment [40]. - The total number of shareholders at the end of the reporting period was 7,574 [184]. Audit and Financial Reporting - The audit opinion for the financial statements is a standard unqualified opinion, indicating that the financial statements fairly present the company's financial position as of December 31, 2024 [198]. - The audit included verification of revenue transactions through supporting documents such as sales contracts, invoices, and delivery notes [200]. - The company has implemented internal controls related to revenue recognition, which were evaluated and tested during the audit [200].